Assets We Cannot Accept

A guide to assets that are not acceptable when applying for a mortgage with Morty

Resources > Mortgage Manual > Assets > Assets We Cannot Accept

There are a few types of assets that we, unfortunately, cannot accept as funds for your down payment. We have listed them below for your convenience. 

  1. Untraceable cash: Because assets have to be sourced and seasoned, any large amounts of cash deposited into your bank accounts will be highly scrutinized. Please make sure all deposits into your accounts can be traced.
  2. Cryptocurrency: Cryptocurrency is not an accepted asset. However, if everything is documented, you can use the proceeds of your sale of cryptocurrency as an asset. It is crucial that all aspects of your cryptocurrency be documented, including original purchase and sale. Additionally, the sale must be in US dollars and reported to the IRS. Remember, the asset must be traceable for lenders to source your funds.
  3. Unverified funds: Anything that cannot be sourced is considered unverified. It is crucial that all assets you plan on using can be sourced by the lender using a paper trail. This goes back to the USA PATRIOT Act, which protects against money laundering. 

See Large Deposits for more info on “sourcing” money in your accounts.